The March 22, 2016 federal budget included a measure to merge the eligible capital property (“ECP”) tax regime under the Income Tax Act (“ITA”) with the ITA’s depreciable property rules. Eligible capital property includes goodwill and certain other intangibles that were not previously included as depreciable property. For the most part these changes are benign, including that the overall tax amortization/depreciation rate is similar, and these changes represent a degree of tax simplification. The budget measure applies after 2016.